Individuals above the age of 21 (of all nationalities) are eligible to open the account. Parent or legal guardian may open account in the name of a minor.
Minimum 6 Months Maximum 36 Months.
Minimum BD 10/ per month and in further multiples of BD 10/-.
Rate of Interest:
As per extant Time deposits.
No interest shall be paid on premature withdrawal of fixed deposits, unless the deposit has run for a minimum period of 1 month. On pre-mature withdrawal after 1 month, interest shall be paid for the period for which the deposit has run, at 0.25% below the rate applicable for the period, prevailing as on the date of contracting the deposit subject to recovery of unwinding cost, if any, in full.
80% of the principal outstanding in the account. The loan will have to be repaid by the customer before the maturity of the RD account or will be adjusted from the proceeds of the matured RD account.